Use cases for real-time payments have never been a source of argument, even among detractors. The ability to speed bill payment and peer-to-peer flows, as well as move money instantly, has been around for a while. The FedNow® Service debuted last summer, while The Clearing House’s RTP® network has been operating since 2017....
Real-time payments have enjoyed optional status up to this point. But they are quickly becoming an essential competitive factor for financial institutions (FIs), especially in sectors like real estate and daily payroll. According to Jill Capicchioni, product director, payments at NCR Voyix, there’s a lack of urgency...
Laura Sullivan, senior product manager at Form3, told PYMNTS in an interview that as faster payments gain ground in the United States, fraudsters are lying in wait. “Everybody feels like the scammers just have not caught up with instant payments just yet,” Sullivan said. As she...
The Clearing House’s RTP® Network has seen growth in both transaction volume and value in 19 out of the last 20 quarters, dating back to 2019. Both metrics are growing 15% per quarter, on average, The Clearing House said in a Thursday (April 4) press release. “RTP transaction...
May 02, 2024
Use cases for real-time payments have never been a source of argument, even among detractors. The ability to speed bill payment and peer-to-peer flows, as well as move money instantly, has been around for a while. The FedNow® Service debuted last summer, while The Clearing House’s RTP® network has been operating since 2017. But what will it take to bring these use cases […]
April 17, 2024
Real-time payments have enjoyed optional status up to this point. But they are quickly becoming an essential competitive factor for financial institutions (FIs), especially in sectors like real estate and...
April 05, 2024
Laura Sullivan, senior product manager at Form3, told PYMNTS in an interview that as faster payments gain ground in the United States, fraudsters are lying in wait. “Everybody feels like the...
March 11, 2024
The financial landscape is rapidly evolving in an era of faster payments, presenting a blend of opportunities and setbacks. One of the major hurdles that U.S. banks are facing today...
April 04, 2024
The Clearing House’s RTP® Network has seen growth in both transaction volume and value in 19 out of the last 20 quarters, dating back to 2019. Both metrics are growing 15% per quarter, on average, The Clearing House said in a Thursday (April 4) press release. “RTP transaction volume is driven by customers who want instant, convenient ways […]
November 22, 2023
The U.K. risks falling behind other nations unless it can create an alternative to its Faster Payment Service. That’s according to a new government-commissioned review on competitiveness in the country’s...
September 18, 2023
Cross River Bank and Plaid say they’ve joined FedNow® Service to widen customers’ instant payment access. The collaboration, announced Monday (Sept. 18), also makes Cross River among the first financial institutions to bring...
September 06, 2023
The RTP network topped 1 million payments on a single day: Sept. 1. This accomplishment highlights the growing adoption of real-time payments and the benefits they bring to financial institutions...
